Nisa Investment Advisors LLC bought a new stake in MannKind Co. (NASDAQ:MNKD – Get Rating) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 7,778 shares of the biopharmaceutical company’s stock, valued at approximately $30,000.
Several other large investors have also recently made changes to their positions in MNKD. International Assets Investment Management LLC acquired a new position in MannKind during the first quarter worth $39,000. Steward Partners Investment Advisory LLC raised its position in MannKind by 97.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 13,422 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 6,627 shares during the period. US Bancorp DE raised its position in MannKind by 53.2% during the first quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 4,952 shares during the period. Maverick Capital Ltd. acquired a new position in MannKind during the first quarter worth $53,000. Finally, Engineers Gate Manager LP acquired a new position in MannKind during the first quarter worth $89,000. 46.83% of the stock is currently owned by institutional investors and hedge funds.
MannKind Stock Up 3.1 %
MannKind stock opened at $4.38 on Friday. MannKind Co. has a 52-week low of $2.49 and a 52-week high of $5.00. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -11.53 and a beta of 1.68. The company has a fifty day simple moving average of $3.43 and a 200-day simple moving average of $3.67.
Insider Activity at MannKind
In related news, EVP David Thomson sold 7,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $3.67, for a total value of $25,690.00. Following the completion of the sale, the executive vice president now owns 726,035 shares of the company’s stock, valued at $2,664,548.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
MNKD has been the subject of a number of research analyst reports. StockNews.com upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research report on Friday. SVB Leerink upped their target price on shares of MannKind from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday.
MannKind Company Profile
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.
- Get a free copy of the StockNews.com research report on MannKind (MNKD)
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